BRICS and Industry 4.0

Wynand Lambrechts, Saurabh Sinha, Tshilidzi Marwala

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

1 Citation (Scopus)

Abstract

This chapter researches the challenges and opportunities in Brazil, Russia, India, China, and South Africa (BRICS) in integrating Industry 4.0 to transform and grow their local economies. This chapter follows an academic methodology to compare and reviews the skills, policies, and strategies that developed countries have implemented successfully in preparation for Industry 4.0 and how emerging markets can learn from these. The research contribution of this chapter is in identifying and studying challenges that are specific to emerging economies (with focus on BRICS), followed by observed initiatives in BRICS countries that aim to mitigate or overcome such challenges. The changing social, political, and economic fortunes of Africa that can boost economic growth through technology and industrialisation are presented in anticipation of the emergent Industry 4.0 and the contribution of this chapter is to recognise its importance.

Original languageEnglish
Title of host publicationInternational Political Economy Series
PublisherPalgrave Macmillan
Pages283-322
Number of pages40
DOIs
Publication statusPublished - 2021

Publication series

NameInternational Political Economy Series
ISSN (Print)2662-2483
ISSN (Electronic)2662-2491

Keywords

  • Artificial intelligence
  • BRICS
  • Digital economy
  • Emerging markets
  • Enabling policies
  • Fourth industrial revolution
  • Globalisation
  • Industrialisation
  • Social transformation

ASJC Scopus subject areas

  • Economics, Econometrics and Finance (all)
  • Political Science and International Relations

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